| Decision | Consent Granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 24 December 2010 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the shares of Bomac Industries Limited and Bomac Research Limited, the consideration of which exceeds $100m. |
| Consideration | CONFIDENTIAL |
| Applicant | Bayer AG Various (31.07%) German Public (22.3%) Canadian and United States Public (20.84%) United Kingdom Public (11.34%) European Public (14.45%) |
| Vendor | Existing shareholders of Bomac Industries Limited and Bomac Research Limited McLaren family, New Zealand (84.0%) Leech & Partners Limited, New Zealand (16.0%) |
| Background | The Applicant's purchase will provide the Bomac's animal healthcare business with the essential capital and industry experience for future growth and efficiency. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Tim Tubman Roger Wallis |